ITC dips 3% on profit booking as govt drafts law to raise legal smoking age

Since November, the stock has outperformed the market by surging 28 per cent, as compared to 22 per cent rally in the S&P BSE Sensex, till Tuesday

Shares of ITC fell 3 per cent to Rs 204 on the BSE on Wednesday as investors booked profit after the government prepared a bill to raise the age for allowing sale of cigarettes and tobacco products to 21 years from the current 18 years. The stock was the top loser among S&P BSE Sensex and Nifty50 index, which were down a little less than 1 per cent, at 02:21 pm.

The counter has seen huge activities with trading volumes more-than-doubling. A combined 41.9 million equity shares of ITC have changed hands on the NSE and BSE, so far.